MIRA INFORM REPORT

Report Date :

07.06.2011

IDENTIFICATION DETAILS

Name :	XAVIA FASHIONS LIMITED
Registered Office :	11-12, Freetrade House Lowther Road, Stanmore, Middlesex, HA7 1EP.
Country :	United Kingdom
Financials (as on) :	31.05.2010
Date of Incorporation :	12.12.2000
Com. Reg. No.:	04122914
Legal Form :	Private Limited
Line of Business :	Wholesalers The import, sale and export of garments

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	GBP 80,500
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Identification Details

Subject Reported on	XAVIA FASHIONS LIMITED
Registration Number	04122914
VAT Number	GB766090808
Address	57 GORST ROAD, LONDON, NW10 6LS.
Telephone	020 84530226

Creditline Recommendations

Monthly Credit Guide

GBP 80,500

Official Company Data

Legal Form	Private Limited
Registration Number	04122914
VAT Number	GB766090808
Subject Status	Trading
Date of Incorporation	12/12/2000
Registered Office	11-12, FREETRADE HOUSE LOWTHER ROAD, STANMORE, MIDDLESEX, HA7 1EP.
History	7/11/2008 : The Registered Office address changed from 108A HIGH STREET, WEALDSTONE, HARROW, MIDDLES.
Date of Last Annual Return to Registry	12/12/2010
Accounts	The last filed accounts at Companies House are those to 31/05/2010
Accounting Reference Date	31/05

Operations

Activities	Wholesalers The import, sale and export of garments.
Nace Code	7487
Premises	Leased,Offices
Staff Employed	7
Import Countries	TURKEY, INDIA, PAKISTAN
Export Countries	IRISH REPUBLIC, GERMANY, SWEDEN
Bankers	HABIB BANK AG ZURICH
Address	92 MOORGATE, LONDON, EC2R 6JJ.
Sort Code	700672
Auditors	Paul & Co
Branches	OFFICE IN TURKEY.
	57 GORST RD, LONDON, NW10 6LS.
Subsidiaries	XARA FASHIONS LIMITED

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
0	0	0

Search History Details

The Search History Details shows details of the most recent 40 searches

Date	Description
30/06/2009	Printing of newspapers

Public Record Information

Summary of CCJ's/Scottish Decrees

No CCJs/Scottish Decrees are recorded in our file.

Summary of Mortgages, Charges and Satisfactions

Total Number of Mortgages/Charges Registered	7
Number Outstanding	7
Number Partially Satisfied	0
Number Satisfied	0
Date of Latest Mortgage Created	22/10/2010

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	30/10/2010	22/10/2010	Memorandum Of Deposit	MG01	Bank Of Baroda
	24/06/2010	21/06/2010	Rent Deposit Deed	MG01	Shila Navinchandra Patel
	12/01/2008	09/01/2008	Fixed And Floating Charge	395	Rbs If Limited
	06/09/2007	04/09/2007	Standard Mortgage Debenture	395	Habib Bank Ag Zurich
	06/09/2007	04/09/2007	Lien On Deposit/Set-Off Arrangement	395	Habib Bank Ag Zurich
	09/02/2002	30/01/2002	All Assets Debenture	395	Dcd Factors Plc
	14/02/2001	12/02/2001	Debenture	395	Dcd Factors Plc

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

Other Filings and Notices

Date

Source

Description

15/01/2001

Companies House Gazette

Change among directors of a company

Company Secretary

Secretary	VARUN MALHOTRA
Service Address	2 FARRINGTON PLACE, BATCHWORTH LANE, NORTHWOOD, MIDDLESEX, HA6 3SW.
Country of Origin	UNITED KINGDOM
Date of Birth	14/05/1951
Appointment Date	12/12/2000

Directors

Director	MRS ANGELA MALHOTRA
Service Address	2 FARRINGTON PLACE, BATCHWORTH LANE, NORTHWOOD, MIDDLESEX, HA6 3SW.
Country of Origin	UNITED KINGDOM
Date of Birth	27/07/1954
Appointment Date	12/12/2000
Other Directorships	PIERSIDE VENTURES LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	1,000
Principal Shareholder	500 Varun Malhotra
	500 Angela Malhotra

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

General Information

21/09/2005 

We were informed by Companies House that the subject is late filing their 31/05/2004 accounts which were due by 31/03/2005. The subject is now in default. 

Financial Data– Statutory Accounts

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

For annual accounts images, view the

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/05/2010	31/05/2009	31/05/2008	31/05/2007
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	76	80	87	895
Tangible Assets	5	3	4	805
Intangible Assets	71	77	83	90
TOTAL CURRENT ASSETS	3038	1574	1369	1686
Trade debtors	254	498	248	408
Stocks	41		38
Other Current Assets	2743	1076	1083	1278
Cash	2743	1076	1083	1278
TOTAL ASSETS	3114	1654	1456	2581
TOTAL CURRENT LIABILITIES	1842	498	443	1022
Trade creditors	1842	498	443	1021
Other Liabilities				1
WORKING CAPITAL	1196	1076	926	664
TOTAL LONG TERM LIABS				473
NET ASSETS/(LIABILITIES)	1272	1156	1013	1086
SHARE CAPITAL + RESERVES	1272	1156	1013	1086
Share Cap + Sundry Res	1	1	1	1
Profit and Loss account	1271	1155	1012	1085
SHAREHOLDERS FUNDS	1272	1156	1013	1086
CAPITAL EMPLOYED	1272	1156	1013	1559

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/05/2010	31/05/2009	31/05/2008	31/05/2007
Currency	GBP	GBP	GBP	GBP
Auditors Remuneration
Liquid Assets	2997	1574	1331	1686
Net Working Capital	1196	1076	926	664
Long Term Debt(>12 Months)
Other Deferred Liabs				473
Tangible Net Worth(T.N.W)	1201	1079	930	996
Equity	1272	1156	1013	1086
Number of Years Trading	10	9	8	7

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/05/2010	31/05/2009	31/05/2008	31/05/2007
Current Ratio	1.6	3.2	3.1	1.6
Long Term Debt/T.N.W
Pre Tax Profit Margin%
Gross Profit%
Debtors Days (D.S.O)
Creditors Days (D.P.O)
Quick Ratio	1.6	3.2	3	1.6
W.I.P/Inventory Days
Return on Investment%
Return on Assets%
T.N.W/Total Assets%	38.6	65.2	63.9	38.6
Return on Capital%
Rtn on Shareholders Funds%
Working Capital/Sales%
Borrowing Ratio%
Equity Gearing%	69.1	232.1	228.7	72.6
Stock Turnover
Days Purchases Outstanding
Sales/Fixed Assets
Debt Gearing

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	3800	99999	99999	99999
Pre-Tax Profit Margin	29.5	15.6	13.3	16.5
Current Ratio	1.6	1.7	1.9	1.8
Borrowing Ratio	78.6	35.2	37.5	44.6
Return on Capital	211.4	64.9	48.3	58
Creditors Days	176	274	284	204

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Miscellaneous business activities not elsewhere classified

Financial Summary

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/05/2010.

No Turnover

The company's balance sheet total is less than GBP 5,600,000 and is a medium sized company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be in the range of GBP 2,800,000 - GBP 11,200,000.

No Pre-Tax Profit

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Profit and Loss Account shown on the Balance Sheet is GBP 116,000 increase. This suggests that the Company may have made a post-tax profit of GBP 116,000.

Working Capital

The company's working capital has improved in the period by 11 %.

Fixed Assets

The subject's fixed assets reduced during the year by GBP 4,000 to GBP 76,000 and are now 2 % of total assets compared with 4 % in the previous year.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.72
UK Pound	1	Rs.73.46
Euro	1	Rs.65.47

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.